As Rolex prepares its annual price review, collectors are bracing for the customary January increases. In recent years Rolex has raised UK retail prices every January and even mid-year in 2025, with steel models up only modestly while two tone and gold models jumped sharply. For example in the official 2025 UK price list stainless sports watches were virtually flat, roughly +1%, whereas solid gold models climbed by around 11–18%. In late 2025 the Rolex UK catalogue shows the Submariner No-Date (ref. 124060) at about £8,100 and a steel Daytona (ref. 126500LN) at ~£13,600. These official prices provide the basis for comparison with our Kettle Club inventory and secondary market values (see table below).
Rolex Pricing Trends Since 2020
The UK Rolex price trends since 2020 have shown remarkable growth, especially for popular sports models. From the surge of 2021–2022 to a slight correction in 2023, Rolex resale values remain well above their early 2020 levels. For example, a stainless steel Cosmograph Daytona 116500LN traded around £15,000 in 2020 but stabilised near £19,000 by late 2024, roughly 60% higher than its original retail of ~£12,000. Similarly a Submariner 124060 (No-Date) that was about £8,500–£9,000 on the secondary market in 2020 now sells for around £10,000–£10,500 as of 2025. Even after a mid-2022 dip in grey market prices, most coveted Rolex models have maintained an upward trajectory. In short, anyone who bought a sought after Rolex in 2020 has likely seen its value appreciate substantially by 2025, good news for collectors and investors tracking Rolex resale values.
Rolex’s own pricing adjustments have contributed to this trend. The brand typically issues annual price updates every January. In 2023 amid high inflation Rolex raised recommended retail prices (RRP) by about 7-8% on most models with two-tone pieces up around 11%. The January 2024 increase was more modest, roughly 4% on average, reflecting a stabilising global economy. By January 2025 however, Rolex again made notable tweaks, steel models saw only minimal rises at ~1%, while gold and two-tone watches jumped dramatically, often 8–11%+ higher. In other words, whether you were shopping new or pre-owned, Rolex prices in 2025 were generally higher than the year before, with material choice playing a big role in the size of the increase.
Steel vs. Precious Metal Rolex Watches
One clear pattern in recent years is the divergence between stainless steel models and precious metal Rolex watches. Stainless steel Rolexes such as the Submariner, GMT-Master II or Daytona in steel have long commanded hefty premiums due to demand. They did see price increases, but these were relatively moderate in the past year, often only ~1–2% in RRP. In contrast Rolex models containing precious metals such as yellow gold, white gold, Everose gold or platinum have spiked more significantly. In the 2025 price list gold models rose by as much as 11–14% in price year-on-year, far outpacing steel variants. This was a strategic move by Rolex and one largely driven by the underlying cost of materials. The price of gold surged about 14% in 2024, hitting record highs around £1,857/oz. Rolex responded by reflecting these higher raw material costs in its watch prices, which meant gold Rolex watches saw some of the largest jumps. Notably one report showed solid gold Daytona models jumped 14% in 2025, whereas platinum models only rose ~1%.
From a collector’s perspective this trend has narrowed the gap between steel and gold model prices. Historically many steel sports Rolexes in the secondary market could rival or exceed the price of two-tone or even some solid gold models. For instance the stainless Daytona 116500LN “Panda” has at times sold for more than a gold Daytona, simply due to higher demand. But as Rolex’s precious metal models became ~14% more expensive at retail in the past year, their resale values have climbed as well. Our data at Kettle Club shows for example, that a two-tone Submariner ‘Bluesy’ (steel & 18k gold) from 2020 was listed around £11,000, while the current model 126613LB (41mm two-tone Submariner) commands roughly £14,000+ in 2023, a jump of about 30%. Likewise an all-gold Submariner 116618LB was about £26,500 in 2020, versus ~£28,500+ for the newer 126618LB in 2023. Meanwhile a steel Submariner like the 124060 might have risen ~20% in the same period, still significant but less in absolute terms than its gold counterparts. In short precious metal models now carry an even stronger premium over stainless steel and their price appreciation has accelerated, closing what was once a larger disparity.
It’s also worth noting that two-tone models which combine steel with gold split the difference. These saw intermediate increases, e.g. ~6–8% in many cases for 2025. For instance a GMT-Master II “Root Beer” in Everose Rolesor (ref. 126711CHNR) hovered around £15k in 2020–21 and remains in the mid-£15k range in 2025, whereas the full Everose gold version (ref. 126715CHNR) climbed from the low £30k range to well over £35k. Overall if you’re tracking UK Rolex price trends, pay special attention to the material, gold and bi-metal Rolex watches have seen sharper price hikes lately than their steel counterparts.
Rolex Price Comparison Table (2020–2025)
To illustrate the pricing changes since 2020, below is a comparison of select Rolex models, showing their reference number, production year, Kettle Club’s selling price and an approximate average UK market price (from Google Shopping and dealer listings) in GBP. We also note whether each model contains precious metal. This gives a snapshot of how values have shifted over time for different models and materials:
| Model (Reference) | Year | Kettle Club Price (GBP) | UK Avg Price (GBP) | Precious Metal? |
| Submariner 124060 (No-Date, Steel) | 2020 | £9,250 | ~£9,500 | No |
| Submariner 124060 (No-Date, Steel) | 2025 | £10,250 | ~£9,500-£10,500 | No |
| Submariner 116613LB “Bluesy” (Two-Tone) | 2020 | £10,995 | ~£11,500 | Yes (Steel & 18k) |
| Submariner 126613LB “Bluesy” (Two-Tone) | 2023 | £14,350 | ~£14,000 | Yes (Steel & 18k) |
| Submariner 116618LB (Full Gold) | 2020 | £26,500 | ~£27,000 | Yes (18k Gold) |
| Submariner 126618LB (Full Gold) | 2023 | £28,995 | ~£29,000 | Yes (18k Gold) |
| Daytona 116500LN (Steel), Black Dial | 2020 | £17,750 | ~£18,000 | No |
| Daytona 116500LN (Steel), White Dial | 2023 | £23,995 | ~£23,000-£24,000 | No |
| Daytona 116508 (Yellow Gold) | 2020 | £36,500 | ~£35,000 | Yes (18k Gold) |
| Daytona 116508 (Yellow Gold, Green Dial) | 2023 | £57,500 | ~£50,000+ | Yes (18k Gold) |
| GMT-Master II 126710BLRO “Pepsi” (Steel) | 2020 | £15,750 | ~£16,000 | No |
| GMT-Master II 126710BLRO “Pepsi” (Steel) | 2025 | £16,995 | ~£17,000 | No |
| Datejust 41 126300 (Mint Dial, Steel) | 2024 | £8,995 | ~£9,000 | No |
| Datejust 41 126334 (Mint Dial, WG Bezel) | 2024 | £12,500 | ~£12,000-£13,000 | Yes (White Gold bezel) |
Table: Pricing data from Kettle Club listings and UK online marketplaces (2020–2025).
As the table shows almost every model has risen in value since 2020. A steel Submariner 124060 that was ~£9k in 2020 is over £10k by 2025. The Rolex GMT-Master II “Pepsi” 126710BLRO in stainless steel, one of the most popular sports models, moved from ~£15.8k in 2020 to ~£17k in 2025. Its price actually dipped in 2022, closer to £15k at one point, before climbing back up, reflecting how the Rolex secondary market cooled in 2022 and rebounded. In contrast models with gold have jumped more steeply. The two-tone Submariner Bluesy increased by ~30% in asking price between 2020 and 2023. The Daytona 116508 in 18k yellow gold shows an even more dramatic rise, particularly the version with a green dial, nicknamed the “John Mayer” Daytona by collectors. In 2020 a standard yellow gold Daytona was mid-£30k by 2023, the sought-after green dial variant was selling for well above £50k. This exemplifies how a combination of precious metal content and collector demand can turbo-charge a watch’s value. Meanwhile the Datejust 41 example underscores a more subtle point, even a hint of precious metal, the white gold fluted bezel on ref. 126334 adds about £3,500 over the all-steel variant with the same dial. Clearly precious metal comes at a premium, one that has only grown in recent years.
Historical Trends & January Price Increases
Rolex traditionally uses January and occasionally mid-year to adjust its prices. Bloomberg notes that at the start of 2025 Rolex hiked some models up to 8% to reflect soaring gold prices. Industry reporting (Men’s Journal via Economic Times) confirms that January 2025 increases were mild overall, about 1% on steel models and ~5% on two-tone watches. A second mini-hike in May 2025 added roughly 3% across the board. Analysts now speculate that 2026’s adjustments could be influenced by external factors, with new Swiss watch tariffs looming, some foresee another 10–15% bump if costs are passed on.
Historically Rolex’s controlled supply has kept demand and resale values high. Over the past decade each January has seen modest retail increases, typically 3–5%, with bigger jumps when raw material costs rose. For example the Oyster Perpetual entry-level range jumped 11% in 2023 then 3.5% in 2024. In 2025 Rolex minimised steel price changes (~+1%) but still imposed the largest hikes on gold models.
Given this pattern we expect January 2026 to bring another round of increases. Traditionally steel sports models see only light hikes, but Rolex’s boutiques may raise two-tone and gold prices more aggressively if metal costs remain high. Pre-owned markets often anticipate these moves, our March 2025 review noted a slight uptick (+0.2%) in Rolex average prices as collectors braced for the Watches & Wonders season.
Popular Collections and Predictions
- Submariner & GMT-Master II (Steel), These perennial favourites remain in tight supply. Officially their prices in 2025 barely moved, +£100 in January. We expect a similar modest retail rise, perhaps ~1–3% in 2026. However strong demand, especially for the green Submariner “Hulk” and new green-bezel models means secondary prices may outpace retail. For instance the no-date Submariner (124060) often sells above £9k even though it lists at £8,100. Newer releases, e.g. Land-Dweller in Oystersteel could also command a premium if allocations are tight.
- Cosmograph Daytona (Steel and Gold), The Daytona is critically oversubscribed. We already see Kettle Club’s steel Daytonas trading well above list. Officially the current steel 126500LN was ~£13.6k in 2025. Expect any 2026 steel increase to be minimal, the upside is mostly in resale. Gold Daytonas e.g. yellow or Everose gold will likely face higher retail hikes. Given the run up after Rolex’s 2023 redesign and the fact that some gold Daytonas increased by ~19% in 2025, we advise investors to watch those closely, a January rise of 5–10% on precious-metal Daytonas is plausible.
- Datejust & Oyster Perpetual (Classics), The all-purpose Datejust line saw only small hikes for steel models 1–2% in 2025. Expect more of the same in 2026. Rolesor versions with gold will tick higher due to metal costs. Our inventory examples, various 126334 and 126300, currently hover around retail or slightly above. The Oyster Perpetual is similarly stable, after big bumps in 2023, the 2025 increase was minimal. Limited edition dials such as vibrant “candy” or Pastel colors may hold extra value, but standard OPs will see only minor price adjustments.
- Day-Date (President) & Yacht-Master (Gold/Rolesor), These luxury models took the brunt of the 2025 increases. The all gold Day-Date 40 models jumped ~11% in 2025. We expect another significant hike on solid gold Day-Dates in 2026, possibly +8–12% given continued high gold prices. Kettle Club currently lists Day-Dates well below retail, e.g. our ref. 228238 Sundust at £32,500 vs. official £37,600. Yacht-Master prices (Rolesium and gold) are also climbing, 2025 saw up to +11% on gold variants. With the Yacht-Master II discontinued in 2024, even the Yacht-Master I series such as 42mm Everose, etc. may see extra demand. In short gold and two-tone Rolexes remain a hedge against inflation and we expect their premiums to grow.
- Explorer, Sky‑Dweller, Others, Core professional models like the Explorer II were raised only slightly, 1–2% in 2025. We foresee similar ~1–3% bumps for them. The Sky-Dweller complex annual calendar saw modest steel increases (+3%) last year, any 2026 update will likely follow suit. Newer lines like the Land-Dweller which have just been introduced are harder to predict, but initial scarcity suggests collectors will eagerly pay above list. Dress models such as Cellini 1908 etc… have low demand and typically see minimal changes.
Outlook for 2026: Impact of Gold Prices and Market Dynamics
Looking ahead to January 2026, what can we expect for Rolex prices? Based on recent patterns further price increases are likely, especially for watches in gold. Gold prices remain a key factor. After a banner 2024 where gold gained roughly 27% year-over-year, 2025 saw Rolex charging considerably more for gold models, roughly +11% in the UK and Europe. If gold and other precious metals continue to trade high going into 2026, Rolex may once again hike the prices of solid gold and two-tone pieces by a substantial margin, perhaps high single digits to low double digits. We’ve seen that trend two years in a row now. For instance the Day-Date which is only made in gold or platinum was among the hardest hit in 2025 with around an 11% jump and could see a similar uplift in 2026 if bullion prices stay elevated. This means new precious metal Rolex watches will likely cost more in 2026 and by extension their grey market and second-hand values should rise in tandem. Buyers interested in gold Rolex references, be it a Day-Date 40, a gold GMT-Master “Root Beer” or an Everose Daytona might consider acting sooner rather than later, as these could be notably pricier after the new year.
On the other hand stainless steel model price increases will probably be modest. Rolex knows that many steel sports watches already trade at 10–50% above retail on the open market, so they’ve been cautious with MSRP increases there, e.g. only +£100 on a Submariner Date in 2025, ~1%. For 2026 we anticipate a similar minimal uptick for steel pieces, perhaps on the order of 1–2%, basically an inflationary adjustment. That means the Submariner 124060, GMT-Master II 126710BLRO, Daytona 116500LN/126500LN and other steel icons might only creep up slightly in official price. Any retail rise of course could still boost second hand prices a bit, but the effect may be muted since these models already carry such hefty premiums. The wild card will be demand, if the market in early 2026 sees a surge of interest, say due to a new model release or economic factors driving investors toward hard assets, even steel Rolex values could climb more aggressively. Conversely if the luxury market softens or Rolex significantly increases production we might see prices level off for a time. As of now however, all signs point to Rolex prices in 2026 continuing their gradual climb in the UK.
Advice for Buyers and Investors
- Buy before the January hike. If you’ve been eyeing a steel sports Rolex, now is the time. After the new prices take effect retailers will pass along increases immediately. Even a 2–3% hike means hundreds of pounds extra on base models. By acting ahead of the change you lock in today’s prices and avoid the surge.
- Consider authorised retail vs pre-owned. Our data show that many models trade above retail on the secondary market. For a new model you can’t order, Kettle Club’s pre-owned (mint) examples may still cost less than chasing a grey-market watch overseas. For example our Black Submariner (124060) at £10,250 was cheaper than the typical used price (~£11,000) even after retail rises. Similarly an unworn Daytona or GMT might be closer to official levels if purchased from us now.
- Watch for tariffs and currency effects. International factors could drive unusual moves. The recent U.S. tariff news has analysts predicting double-digit price increases in 2026 if costs are passed on. At the same time a weak pound or strong dollar could push UK prices even higher. If you’re buying in GBP any currency shift could make watches more expensive later in the year.
- Focus on long-term holds. If you’re an investor, prioritise models with strong historical resale. Today’s desirable pieces, steel sports, platinum Day-Dates, discontinued lines etc… tend to hold value best. We’ve noted steady demand for references like Submariner 124060, GMT-Master 126710/126720 and two-tone Datejusts. Buying these now and holding through a correction or waiting for the market to recover has often paid off.
- Stay informed with Kettle Club. We continuously track Rolex market data and inventory levels. Follow our updates and reviews and feel free to contact us for price comparisons or valuations. We aim to help you navigate the fluctuations and make smart purchase decisions.
The Rolex market in the UK has been robust and looks set to continue growing into 2026. Prices since 2020 have climbed significantly and factors like precious metal costs and sustained demand mean that trend is likely to carry on. Precious metal Rolex watches, from two-tone Datejusts to full gold sports models, saw roughly 10–14% price jumps in the past year alone and we anticipate further gains as gold prices remain high. Stainless steel favorites should keep their value or appreciate modestly, fueled by Rolex’s own small list price rises and the ever-present shortage in authorised boutiques. For both collectors and investors, understanding these dynamics is key, steel Rolex’s offer stability and liquidity, while gold models might offer larger upside if current trends persist.
If you’re looking to navigate these Rolex price movements or add a timepiece to your collection, now is a great time to do so. Be sure to browse the current Kettle Club Rolex collection to see live pricing and availability of various models. Our team at Kettle Club is here to help, whether you’re seeking a specific Rolex for 2026 or considering selling/trading your watch. Feel free to contact us for personalised sourcing or a competitive resale quote. With the market on the rise, our experts can guide you to make the most of these trends. Don’t miss out on the next chapter of Rolex’s exciting journey, let Kettle Club assist you in finding the perfect Rolex, at the right price, as we head into the new year.
Sources: Official Rolex price lists via industry analyses and market data
monochrome-watches.com
theluxuryhut.com
kettleclub.co.uk
bloomberg.com
economictimes.indiatimes.com along with Kettle Club inventory and resale observations.
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